PETALING JAYA: Digital engagement platform brand B Infinite has restructured its shareholding to make way for Asean-centric boutique investment firm Emissary Capital with a stake of 18%.
This move also comes with a management restructure whereby it will be operated and governed independently by a 13-strong leadership team with diverse backgrounds from payments, retail and telecommunications.
Emissary Capital (EC) co-founding partner Erman Akinci when confirming the investment of RM19.8 million said that the company will move forward in a start-up format that will be primed for growth.
“Emissary is upbeat about B Infinite’s ability to value-add to our stable of investments and is strongly confident in its ability to carve a unique position across the domain of fintech and martech. We envisage a substantial growth potential on this investment and have no doubt that B Infinite will deliver on key metrics such as active membership and customer lifetime value. We also expect to see an expanded eco-system,” Akinci elaborated.
B Infinite CEO Yau Su Peng said its priority whilst seeking investors had been to seek out a partner with hands-on operational expertise and experience to propel our growth story into the next chapter.
“EC’s proven successes in supporting Southeast Asia’s largest bus ticket booking platform Easy Book are clear evidence that their philosophy of focusing on operational control, knowledge transfer and strong execution is exactly what is needed for B Infinite. The respective partnerships that can be cultivated between these businesses and B Infinite alone are sufficient to make this relationship a strategic fit.”
According to Yau, the fund injection will allow B Infinite to pick up momentum for its growth trajectory and really step on the gas to deliver the brand promise of thrilling members in infinite ways – big or small. Strategic capabilities including technology, data science and digital marketing will be prioritised to ensure that customer experience is seamless and pleasurable. Emphasis will also be placed on ramping up its e-wallet footprint across both brick-and-mortar outlets and online.
B Infinite started life in December 2010 as a plastic card and points-based loyalty programme known as B Card. The brainchild of Berjaya Corp’s (BCorp) Datuk Seri Robin Tan, its purpose then was to build loyalty across the conglomerate’s consumer brands via a consolidated rewards programme and network. Seed-funded by BCorp, it soon grew to a sizeable open loop merchant network beyond Berjaya’s brands and has since evolved into the full-fledged digital engagement platform that it is today.
The brand transformed to become B Infinite in December 2015 and with it, a mobile app was developed as a digital alternative to physical cards. Subsequently, B Infinite was awarded an e-wallet licence by Bank Negara and simultaneously it pivoted to take a digital transformation route. In April 2020, amidst MCO 1.0, B Infinite Pay was introduced into the market in tandem with an enhanced mobile app featuring engagement, mobile e-commerce, gamification and affiliate programmes. B Infinite also expanded its digital eco-system with investments in Singapore’s Mednefits and ABLR.